Space stocks are the companies that are working to put humans, infrastructure, and key goods into space. This refers not just to the companies launching the actual rockets of the modern space race but also to the companies helping supply the technology behind these historical expeditions. Some of the most popular names of the space race, such as Elon Musk’s SpaceX, are not yet public. However, investors can turn to funds such as the ARK Space Exploration & Innovation ETF or to stocks such as Virgin Galactic and Astra.
The opportunity in space stocks is nearly infinite. Analysts at Morgan Stanley expect that economy to measure over $1 trillion by 2040.
Astra Space (ASTR) layoffs are in the news as the rocket company shifts focus away from its satellite space services offerings.